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Oil prices fell nearly 3% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude. Brent crude was down $1.55, or 2.9%, at $51.88 a barrel at 1315 GMT. West Texas Intermediate (WTI) futures fell by $1.41 cents, or 2.9%, to $47.32 a barrel.

Aston Martin shares slumped to a record low on Thursday after the British luxury carmaker said its losses ballooned last year and its chief financial officer would leave by the end of April. The firm, famed for being fictional agent James Bond's car of choice, posted a pretax loss of 104 million pounds ($135 million) last year compared with 68 million pounds in 2018 following a 9% decline in sales to dealers. Aston Martin is in the midst of restructuring after announcing last month that a cons

Toyota Motor Corp on Wednesday said that operations at its plants in Japan may be affected by supply chain issues linked to the new coronavirus outbreak in the coming weeks, as the global outbreak gathers pace. The automaker, which operates 16 vehicle and components sites in Japan, said that it would decide on how to continue operations at its domestic plants from the week of March 9, after keeping output normal through the week of March 2. Plants may be affected by potential supply d

HONG KONG/BEIJING (Reuters) - Autonomous driving firm Pony.ai said on Wednesday it has raised $462 million (425 million pounds) in its latest funding round, led by an investment by Japan's largest automaker Toyota Motor Corp. Toyota invested around $400 million in the round, Pony.ai said in a statement, marking its biggest investment in an autonomous driving company with a Chinese background. The investment by Toyota comes at a time when global car makers, technology firms, start-ups and inves

TOKYO/LOS ANGELES (Reuters) - Panasonic Corp said it would exit solar cell production at Tesla Inc's New York plant, the latest sign of strain in a partnership where Panasonic's status as the U.S. electric vehicle (EV) maker's exclusive battery supplier is ending. The move increases uncertainty over Tesla's solar business which is already under scrutiny, having been drastically scaled back since the U.S. firm bought it for $2.6 billion in 2016. Tesla has informed New York that Panasonic's wit

Peugeot maker PSA Group said its profitability reached a record high in 2019 but the French carmaker forecast falling industry sales in Europe this year as it pursues its merger with Fiat Chrysler, which is strong in North America. The group, which also produces cars under the Citroen and DS brands, offset a slump in vehicle sales by selling pricier SUV models, with launches including the Citroen C5 Aircross helping to lift revenues by a higher-than-expected 1% to 74.7 billion euros ($81.2 bill

Officials from the salvage firm Donjon-SMITH told a U.S. District Court judge they would be willing to dismantle the South Korean freighter Golden Ray using the same large-scale method their written lawsuit condemns as too risky. Judge Lisa Godbey Wood has treated the suit filed Feb. 13 with a sense of urgency as the multi-agency team overseeing removal of the ship prepares to start cutting it apart in May. Wood told Donjon-SMIT officials and their attorneys several times that differences betwe

Fernando Alonso will again attempt to complete motorsports' Triple Crown with a return to the Indianapolis 500 in May with McLaren. The team failed to qualify Alonso for the race last season in a spectacular comedy of errors, including not having its car properly prepared to put the two-time Formula One champion in the field. “We beat ourselves,” McLaren CEO Zak Brown said Tuesday.